LG Group and Japan's Softbank may be on the verge of a profound restructuring of the Korean telecoms sector.
In part, this is thanks to some very messy shareholdings.
LG owns 30% of Dacom, a competitor to KT in the long distance and international field. Meanwhile, Softbank has long been a major investor in broadband operator, Korea Thrunet - owning 20% - and more recently it took an undisclosed stake in Dacom.
Now Dacom and Thrunet have formed a consortium that will buy 45% of Powercomm from Kepco for W819 billion $678 million. This will mean that Dacom can now make use of Powercomm's national fiber optic network to offer end-to-end calls allowing it...